Transaction card issuers, such as banks, often issue credit cards (individually and collectively, “Transaction Cards”) under their own marks and/or enter agreements with third parties, (such agreements hereinafter referred to as Private Label or Co-brand Agreements) for the right to issue credit cards branded with or marketed under such third party's marks. From time-to-time and for various reasons, the Private Label or Co-brand Agreements may be terminated by either the bank or the third party. It would be a great benefit to the card issuer to be able to retain existing and generate new balances and receivables for cardholders that were originated through such Private Label or Co-brand Agreements when those agreements are terminated by either the bank or the business.
Further, it is common for cardholders to allow their Transaction Card accounts to remain inactive for extended periods without actually closing the account. With respect to such cardholders, it would likewise be a benefit to the card issuer to be able to retain existing and generate new balances and receivables by stimulating purchasing activity among such inactive cardholders.
There is a current need for a way to enable a bank to be able to retain existing and generate new balances and receivables for cardholders that were originated through Private Label or Co-brand Agreements when those agreements are terminated by either the bank or the third party, and/or in situations in which Transaction Card cardholders allow their accounts to become inactive for extended periods, to retain existing and generate new balances for such cardholders by stimulating purchasing activity among such inactive cardholders.